Glens Falls Business Journal
By Rod Bacon
Ownership of O’Connor Construction has passed to the fifth generation of the family.
On December 18, President Pat O’Connor finalized the purchase of the 120-year-old company from his uncles, Kevin O’Connor and Brian O’Connor.
“Several years ago my uncles came to me and said ‘You’re the next one to take over if you want to’ so I’ve been preparing for this for quite some time,” said Pat.
The $4 million transaction was brokered by Nic Ketter of Glens Falls-based Realize Brokers. Edward P. Fitzgerald of McPhillips, Fitzgerald & Cullum LLP represented the sellers. Kara I. Lais of FitzGerald Morris Baker Firth PC represented the buyer.
The sale included equipment and real estate at company headquarters at 147 Meadowbrook Road in Glens Falls.
Pat said he feels well prepared for his new role. He joined the company in 2014 after working for a few other contractors in the area. He rose through the ranks, eventually being named vice president. This required he take on more responsibility, which gave him additional experience and insight into company operations. He also earned an associate degree in construction technology from Hudson Valley Community College and a bachelor’s degree in construction management from SUNY Delhi.
Since its establishment in 1905, the company has grown from founder Thomas O’Connor hauling dirt with a horse and wagon between Glens Falls and Ticonderoga to include excavation and site preparation for area contractors, paving, concrete work, retaining walls, and sports courts.
Currently, the company is doing site work for a development underway in Wilton by BBL Construction Services, as well as constructing roads for Phyllian’s Bluff, a 31-lot subdivision near Saratoga Lake being built by Witt Construction.
Pat has ambitious plans for the future. The company’s annual revenue is $7 million-$10 million, and he wants to grow that to $100 million within the next 10-15 years. That would require expanding his contracting radius from 100 miles to 300 miles. He now bids on contracts from Albany to Plattsburgh and east to the Vermont border. An expanded radius would take him to Syracuse and possibly as far as Buffalo to the west and into Vermont to the east. He is especially interested in expanding north of Ticonderoga.
“There are a limited number of site guys up there,” he said. “I think the northern market has the most opportunities.”
To do this he would have to increase his 30-member workforce. The company offers health insurance, IRAs, and vacation time.
There is also the possibility that he may develop some of his own properties.
“I think what I would like to do is build something like a thirty-unit apartment building that would generate revenue for me and my family,” he said.
The sale of the construction company has not taken Pat’s uncles from the business world. They continue to operate O’Connor Quarry, which they founded in the mid-’80s to provide sand for their excavation work. Since then they have expanded their offerings to include a variety of stone, sand, gravel, mulch, compost, and soil products.
Pat has been married for 11 years. He and his wife, Sara, have two daughters, Sophia and Bria. While it is much to early to think about business succession, he does not want O’Connor Construction to pass out of the family.
“There’s a possibility that my younger daughter, Bria, might take over when it comes time for me to retire,” said Pat.
To learn about the services offered by O’Connor Construction go to etoconnor.com.
To view the products available at O’Connor Quarry go to oconnorquarry.com.